Affordable suburbs within 20km of Melbourne that you’ll want to live in

42 Kambara Dr, Mulgrave, is for sale for $1.05m.

Greensborough, Mulgrave and Briar Hill have emerged as the city’s top spots for a good lifestyle at a reasonable price.

The suburbs have been hailed for their relative affordability when compared to the key amenities they offer, as well as their future project plans and low unemployment rate, according to PRD’s latest Affordable and Liveable Property Guide report.

And although they may have a median house price of about $1m, the price is still below the typical $1.14m median for a house within 20km of Melbourne’s CBD.

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2/4 Jessop St, Greensborough, is for sale for $620,000-$680,000.

Proximity to La Trobe University is appealing for buyers in Greensborough.

The suburbs also offer good rental yield and have low vacancy rates.

Greensborough and Mulgrave have a median of $1m, while Briar Hill is priced at $1.05m, the report shows.

PRD chief economist Dr Diaswati Mardiasmo said while not the cheapest locations, the suburbs were “able to satisfy all of the criteria that makes a suburb attractive for people to live in”.

“Greensborough is next to La Trobe University; Mulgrave is next to the hospital and Briar Hill is next to a shopping centre,” Dr Mardiasmo said.

“These places cost you a little bit more, but their proximity to an amenity is going to serve you well not only from a day to day liveability perspective but also if you want to resell.”

The report found the Melbourne market was becoming an “opportune market for buyers and in particular first home buyers, with median property price growth … having swung to a decline”.

200 Mountain View Rd, Briar Hill, is on the market for $900,000-$990,000.

Greensborough Plaza is a major drawcard for the area. Picture: David Geraghty

It highlighted strong-performing yet achievable unit markets including Taylors Lakes, Kensington and Clayton South, which Dr Mardiasmo said were a smart choice for buyers looking to get into the property game.

“The areas that we identified are near universities, hospitals, shopping centres – everything you want in terms of amenities,” she said.

“The demand will never fall off the wagon, people will always be looking in these areas.”

Ray White Glen Waverley partner Marc Lum said a suburb like Mulgrave benefited from the resources of neighbouring suburbs, while remaining affordable.

“Glen Waverley is the central suburb in Monash, it’s a prime blue chip suburb — but Mulgrave is only a couple of suburbs away,” Mr Lum said.

“It’s not overdeveloped, it’s still very neighbourhood (based) and most of the sellers that are there have been there for 30-40 years.”

34 Albany Dr, Mulgrave, sold for $1.11m.

Keryn and Neil Harnwell with their daughter Rose. They have lived in Mulgrave for 33 years but recently sold their family home for a sea-change. Picture: Tony Gough

The agent said young professionals and families were cashing in on the area after being priced out of areas like Wheelers Hill.

Neil and Keryn Harnwell have lived in Mulgrave for 33 years but recently sold their family home for a sea-change.

The couple raised their two daughters in the suburb and say it is the perfect spot for young families with great schools, a tight-knit community and lots of parks.

“It’s the type of place you walk down the street and say ‘hello’,” Ms Harnwell said.

“There’s primary schools, high schools and healthcare centres around the corner — and even a local strip of shops for the essentials. And the location is easy to get to whatever location you want, from the city to the Dandenongs.”

The Harnwell’s four-bedroom home with a spa sold for $1.1m last week, slightly above the suburb’s median.

The Harnwell’s four-bedroom home with a spa sold for $1.1m last week, slightly above the suburb’s median.

The PRD report defined suburbs as liveable based on factors including proximity to schools, parks, transport and shops, as well as low unemployment and vacancy rates.

Only areas within 20km of the CBD and with more than 20 sales as well as positive price growth were considered.

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alanah.frost@news.com.au

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